Publications

Investors

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

GIC forms JV for residential investments in India

by Andrea Waitrovich

Singapore’s sovereign wealth fund GIC, through an affiliate company, announced a partnership with Bangalore, India–based developer Brigade Group to jointly invest up to Rs 15 billion ($247 million) in residential developments in various cities of South India. The joint venture aims to acquire land for residential and mixed-use developments in cities primarily where the demand for high-quality residential units is high.

This is not GIC’s first partnership with Brigade Group. In 2012, GIC's affiliate Reco Begonia entered into a partnership with Brigade Enterprises to develop a premium residential project on the plot at Whitefield Main Road in Bangalore. The partners purchased the property from FMCG major Hindustan Unilever for Rs 1.25 billion ($20.6 million).

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?